Kingsport Times News Wednesday, October 1, 2014
Regional & National

Incomes of people 54 and younger in an 8-year nose dive

September 18th, 2009 12:00 am by Staff Report

According to USA Today the incomes of the young and middle-aged — especially men — have fallen off a cliff since 2000, leaving many age groups poorer than they were even in the 1970s.

An analysis of Census data by USA Today shows people 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.

While the young have lost ground, older people have grown more prosperous over the years and the decades. Older women have done best of all.

The dividing line between those getting richer or poorer: the year 1955. If you were born before that, you're part of a generation enjoying a four-decade run of historic income growth. Every generation after that is now sinking economically.

Read the full report at USA Today's web site.

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